Information  for  the  People 


|  8  Pages. 


No.  0, 


FINANCES  AND  CURRENCY; 

RETRENCHMENT  AND  ECONOMY. 


Contents :  Page 

General  Remarks  -  --  --  --  --  --  -1 
Net  Receipts  and  Expenditures,  fiscal  year  1875  -  1 
Sources  of  Internal  Revenue,  1875  ------  1 

Total  Paper  Circulation,  June  30,  1875  -  -  -  -  1 

Governm’t  Receipts  &  Expenditures,  1855  to  1875  2 
Reduction  of  the  Public  Expenditures  -  -  -  -  3 
Reduction  of  Taxes  by  Acts  of  Congress  -  -  -  3 

^Reduction  of  Public  Debt  -  --------3 

Reduction  of  Interest  on  Public  Debt  -  -  -  -  3 

Reduction  of  Interest  on  Debt  by  Funding  -  -  3 
Reduction  of  Internal  Revenue  Taxes  -  -  -  3 

Reduction  of  Customs  Taxes  -  --  --  --  -  3 

Reduction  of  Int’l  Rev.  Officers  and  Employees  4 
Direct  Income  Tax  Abolished  -  --  --  --  3 
Cost  of  Assessing  and  Collecting  Int’l  Revenue  4 
Imports  and  Customs  Revenues  ------  4 

Interest  paid  on  Public  Debt  -  --  --  --  4 

Expenditures  :  Rates  per.  Capita  1800  to  1875  -  -  4 
Yearly  Paper  Circulation,  1854  to  1875  -  -  -  -  5 

U.  S.  Currency  Outstanding  July  1,  1875  -  -  -  5 
The  Public  Credit  :  Borrowing  Power  of  Gov’t  5 
Condition  of  National  Banks  June  30,  1875  -  -  5 
The  People’s  security  against  loss  by  Nat’l  B’ks  5 
The  Public  Domain  :  Lands  Sold  and  Unsold  -  6 

international  Postage  Reduction,  1861  to  1875  -  6 
Increase  of  Postal  Facilities  -------  6 

Preparing  for  Specie  Payments— Coinage  -  -  -  7 
Expenses  growing  out  of  Democratic  Rebellion  8 


NET  RECEIPTS  FISCAL  YEAR  1875. 

Customs . $157,167, 722.  35 

Internal  revenue .  110,007,493.58 

Sales  of  public  lands .  1,413,640. 17 

Miscellaneous  sources .  19,411,195.00 


Total  net  receipts . $288,000,051.10 

NET  EXPENDITURES. 

Civil  and  miscellaneous . $  71,070,702.98 

War  D  ‘parlineut . 41,120,645.98 

Navy  Department .  21,497,626.27 

Indians  and  pensions .  37,840,873.04 

Intorest  on  the  public  debt .  103,093,544. 57 

Total  ordinary  expenditures . .$274,623,392. 84 

The  Internal  revenue,  for  fiscal  year  1 875, 

was  collected  upon  the  following  articles  : 


Spirits . 

Tobacco . 

Fermented  Liquors . 

Banks  and  Bankers . 

Adhesive  Stamps . 

Penalties,  etc . 

Articles  and  occupations  formerly 
taxed  but  now  exempt . 

Total . 


Total  receipts 
from  each  source. 


$52,081,978.62 
37,303,670. 06 
9,144,391.66 
4,096,860.8? 
6,083,590. 42 
280,982. 06 

857,731.42 


$109,849,205. 11 


Results  of  Republican  Rule. 

Under  Republican  Administration  the  rec¬ 
ords  of  the  Government  Departments  are 
always  open  for  inspection.  Nothing  is  con¬ 
cealed  from  the  people.  The  tables  in  the 
following  pages  are  compiled  from  official 
sources.  Their  accuracy  can  be  tested  by 
reference  to  the  original  documents.  They 
are  condensed  here  for  convenience  and  ready 
reference. 

The  first  seven  pages  exhibit  in  brief,  some 
of  the  achievements  of  Republican  effort.  The 
last  page  presents  a  painful  contrast,  in  the 
large  annual  tax  upon  the  peoples’  earnings, 
together  with  the  long  list  of  pensioned  sol¬ 
diers,  widows  and  orphans — the  direct  result 
of  the  Democratic  rebellion. 

The  tables  presented  in  these  pages  require 
no  comment  from  the  compiler.  They  speak 
for  themselves,  and  show  substantial  results 
of  the  most  gratifying  character.  Among 
these  are : 

A  steady  reduction  of  the  public  expenditures  for 
ten  consecutive  years,  with  only  two  exceptions; 

A  reduction  of  $540,951,641.74  In  the  public  debt; 

A  reduction  of  $40,688,047.34  per  annum  of  the  In¬ 
terest  on  the  debt; 

A  reduction  of  $203,419,553-54  per  annum  In  the  In¬ 
terna)  revenue  taxes  ; 

The  abolishment  of  the  direct  or  personal  Income 

tax  ; 

A  reduction  of  $59,504,749.84  per  anuum  in  the  dia¬ 
toms  taxes ; 

A  material  reduction  in  the  rates  of  International 
Postage. 

Tne  sinking  fund  provided  for  ; 

The  expensed  of  the  Government  paid,  and  a  sur¬ 
plus  from  the  year’s  receipts  In  the  Treasury,  as 

follows  : 


TOTAL  PAPER  CIRCULATION. 

The  total  paper  currency  circulation  at  the 
close  of  the  fiscal  year  1875  was  as  follows : 

National  bank  notes . $351,869,008.00 

Old  demand  and  legal-tender 

notes .  375,841,687.50 

Fractional  currency .  42,129,424.19 

Total . $769,840,119.69 

The  recent  large  return  of  national  bank 
currency  to  the  U.  S.  Treasury,  especially 
from  the  West,  would  seem  to  indicate  that 
the  business  of  the  country  does  not  require 
more  paper  currency.  Since  the  passage  of 
!  the  Act,  January  14, 1875,  providing  for  new 
banks  and  the  increase  of  the  capital  of  all 
banks  to  any  extent  required,  the  following 
is  the  result  up  to  July  6,  1875  : 

Circulation  retired  by  old  banks  -  -  -  -$25,523,057 
Circulation  called  for  by  new  and  old  banks  7,785,525 

Actual  decrease  of  circulation  -  -  -  17,737,6*2 

For  paper  money  in  circulation,  since  1 854  ; 
the  present  condition  of  banks,  and  security 
against  losses,  see  page  5.  The  result  of  the 
examination  of  the  books,  bonds  and  cash  in 
vaults  and  cash-room  of  the  retiring  U.  S. 
Treasurer,  on  page  7  ;  also  account  of  c  oinage 
and  preparations  for  specie  payments. 

On  the  1st  of  January,  1876,  there  will  be 
on  hand  subsidiary  coin  sufficient  to  make  it 
easy  for  the  Secretary  to  begin  the  work  of 
cremating  the  fractional  currency. 

With  confidence  and  co-operation  on  the 
part  of  the  people,  there  seems  to  be  little 
or  no  doubt  of  the  ability  of  the  Secretary 
of  the  Treasury  to  resume  specie  payments 
at  the  time  specified  iu  the  new  finance  bill. 


NET  RECEIPTS  OF  THE  GOVERNMENT  FROM  1866  TO  1875— BY  FISCAL  YEARS. 


2 


Intebnai,  Revenue.— Average  annual  losses  on  collections  do  not  exceed  one-fiftieth  of  one  per  eent‘ 
The  CUSTOMS.— Losses  on  collections,  one  fifty-fifth  of  one  percent.,  as  shown  by  careful  examination. 


^ 


\q  ©  ©  oo  co^  © 

a  (N  io  j>  o  ic  < 
0s.  r-  CO  c  o  CO  o ( 


©coko©x©>t^C3HH< 


:  O  03  CO  03  < 


>  ©©t^t^© 
)  00  iO  CO  ^  rH 


5|>OC^^CCrM>4  0ciOlO 


©  kO  iO  < 


;l>-t'-©'^03'<*XC0kOC0CPXX< 
“  ©  03  T-H  CO  CO  CO  ^  uO  03  < - 


lOOifj  ooo^^^ctscoec'^inc^oeot^- 
©05©'9<©ir5p>©©i''.©©©C5>c5eo--'t-Hi<© 


-H  00  CO  PS  ©  rH  >— I  PI  - 
r»©-*llfSl«'*<kOrHC 


(S500OII5O-' 
>  CO  kg  ©  CD  r^l 


_  _  .  ,  „  eS  S 

-^VpjHcococopi 


<N 


I  CO  ' 


ooceiAeSpScocpcopI© 


XLOOCOOOJiOOr-i 
“  Cl  H  ic  CO  CO  ^  ' 


JICCOO 

lOhO 


<  ©  ; 


cDOiOiN^HCO  «*  03  CO  X  X  -h  — •  ©  01  to 
Oico^cijicio^cioco^^ici^^ci 
kCujiOHp-^iOCOiO^COHiOOClOH 

r-T  kO  -H 

©  t"*  TH 

1“»  O  ^ 


CD®(N^OOCOOT-'T-ir-HCDt^iOI>C^COCP 

^gLOio^^T^^cc^cocO'^c^'^  ©  © 


iCO^OO^^CC^OOt'CJCJO' 

r-r-T^H  co'o'icTqrio't^co^csrio  t^tr^© 

COC^ClnHHHClHriHH 


be 


OlOOO^r-^COiCOOl'OiCiOO^ 

^oo)C^oa)cocoic:T-i>c.ococi 

^  QD  O  O  »C  H  CO  1C  O  Oi  H  CO  a  O  lfO 
^QCO^^O^kOCOOJO-TflCOCOCO© 
ecoco^wm^oc<ico^co«-coo^ 

aTo  eg  oo  03  ^jT c«5  55 ©£*3©  ©Vf 


_  •  do  od  oo  < 

HCDOt^t 


>  lO  Ci  <35  H  *4 
I  03  X  ^  > 


CO 


HHQOt-CT.COlOQOOJH^ 
CM  t— i  CO  03  03  th  -t-h  rH 


<  ^  P- : 
•kO  f-  rH  < 


S3S5gi 
3282 

©  -*<  t'* 

^oTeo^o  od  ©  03  iSx 


~co©rH^©x©Xcci> 

COOC^^CCt'COHWCiri 

fc^xcot^eocornkOka^— <©H*ofx© 
ClfiO^COlCCO^rHT^X^-'- •  03 
lOCOC^COCOuCOiOh.CO’^^^CO^CO 


Oi^kOlSt^kCOco^! 
©XkOI>t^XrHrHk©©C 

O^CO^yfr^r-T 


>  CO  00  o 

>  ©  - 


OC  uo  Ol  <01  CO 

x  i>-  x  iro  i-t 
■ - 00^ 

H  H  CO  cf  03  03  t-h  -rH 


rH  S3  ic 
CO  O  CO  CO  1C  00 


)HCOCO^O»OHXt- 

.  ICOXCO^COkOkOOlkO 
COO^MOCO^XOlO 
•■)nCOlOr^(NiHCOriCC 

tof kg'  jrT ^T^cT 00  uo  oTo' 


)  l>*  C  X  CO  ^  X 

i  ©  03  i>  oi  io 


kO 


rH 


kCO^CJCO^COOiCOOI^pCO 


C5rHC^-^'^'^X’TCOI>HC^lO 

l>-^kftCOt>©©©COI>H*<^;o 
XCOH^COXCOiOiOt^-Xa: 
t^HC^XiOifltrP'TH  —  co  Tt- 

r^T  ©~ t>  t-Tco’eToo' of  oT©  r-T 
^COCIWXiOC;  O'.’T'CIOO 
t^OOCOXCCOh'TjUC 

To 


>  l>  ^  < 


t^C.flJCiCOHX^^OWCJIi 
CO  O  O  OCOO»CX^COrH6i 


)COXc^con<j;coL':XincO'Tfot^r'COco 


>  O  ^  ' 
l  03  I 


I  kO  03  03  OHOOCO^XCOCICO^ 
iC3©''$<ko©io*-H©o3t>-©xo3coo3 


;©XUO^HCO©rH03©XkC^t<eO’'*C3kbXt>* 

’  aT cef  op*©V^  od  oo* o' cT ©r  co* r- 


03  »r.  ©or^03©©(ccx 

(N  1^  X  CO  X  X  »5  §  ^  (N 
OXI>iO'-»OOOCCC; 


OXhiO 

tjT cor-raTco'orcraroi ©©'hT ©  ^  f 

cOcOrH^iOCO'^COOXP'^COf - 


I  ^  rH  ©  T*  c 
.O^TfOl 


)  X  : 


t^hXOC 

C^COOHr- 

rcoVccVr 

)T-XCClC 

I  03  H  T—  rH 


jt^xooHdco^iocot^xaOrH^co^io 

tSSSSSSS^^xxxSoooocoooSooo 


iC.^CJOHN^r-ciCOCOQiOlO^COh-^ 

>CONMXClHa)^OTHOOXI>(NCOCOHX 


>  CO  03 
I  So  CO 

?coco 

kOtSrH©^k6l>-r^-COkCXk£cOX©r-HkCco£H© 

a.W'aTco^^  -d«  ic  t^©V^t>  oTaTo3't^'cr  t-  ^ 

©©t^»©©©r^-r< '©©O3k©r'-O3©©r-©XI>- 
^r^XO^kCCOCOCOCOC^03C^C303 


lOt'OCOX’^XiO'H^COiO’ 
OI^(NO.iOCOXt^COC3^CO( 
HICOO  cT©  r-OC3»OC5(NQlO 


^  O  GO  03  l 
P*  *o  X  o  - 
03  no  —  X  < 

~COt^l 
to  r-  i 


)t>OC10lOHCOOHHC 

l0CiCOP*^5OCOOCOC5h*C 


i  O  CO  03  ^  r-H  !>• 

•  o  as  r-  ^  03  ic 


>  M0  CO  CO  ^ 
:  iQ  O  —  t>  03 
IO^COhX 


h  ^  a  ^  ^  ci « 


1C  1-  CO  CO  l>< 
a  CO  lO  CO  n  ( 


t-w  th  rl  Cl  CO  ^  CO 
m  rH 


coxc 

OOiO^^^^^^CO'h-OCJM 
ai03Q0C^CDX03CiC0»^-‘C»O»-'Ci 
Ht^CCCOOt^’^CcnOWt^nO 

"'t^'co^co  Q  OC^lQt^ 

CO  CO  03  03  f-H 


o  p  CO'S 

^  *Qfl 

fl  Vi  <Pr-, 

O  93  ®  2 
h  »-  0 

to  0} 

■c  S  °  ^ 

«  c«  c  84 
3  <w  «s 

*|Sg 

i;  a  os  o 
o  ^  rt,  «< 


^  CO  L 
(J3lOt^C 


I  CO 

:  o  O 


050^03thO 

Op  CO  GO  X  ;p 
O'H'Xb  03 

03  o  ^  co  cr. 


)  t>»  !>•  rH  GC  L*  X  C 


lO  r~i  T— '  03  T— •  03  ^ 

CiOC3H»f5lOXC3Q® 
ociOiXcoioeocoic3x 


l  <x>  ^  <x> 

>  03  —  rH 
<  ^  ^  03 


00  03l>»O03C£>C000C0a0i0C003C0 
O.  H  H  d  O  OHC  I>x  X  o  ."O  X  N 
03C003C3rHCXOCT.  C0-3  05t>^ 

rn'r-n'i-H  t-h  rH* rH  H  ^  CC  lO  O  CO  00 

rH  rH  03  03  03 


>  CO  co  o  x  co 
<  ^t-  co  ihcoio 

i'+iOtt  o  ^ 

r^T  ocTcTcTcri 

I  CO  03  03  03  03 


t^rH-TjJ^g0l0rHC^QpCOI>03 


100003 

C5  CO  X  K>  H  X 
03  Tti  CO  03  Oi  30 
kO  l>»  O  t-h  CO 


>  lO  ^  03  ( 
)H-^X' 


5  tr-X  t>- 

uoior 


S^l  SO  OD  88  ©  S 


ic;«c>C5  0cc:J'--!O.-<e;«©T—©'*f'!f©a'-  ©so 
cf-^r'tjreo'cTe^cI'eciMkflwrHf'r't^ect^t-c-toco 


©QO©C^O5Q0©©©(?»UD©t>O50OO^©t>'H<?;l 

I  c— 


HCOHO.^t'pTCO^lOXH 

Xl>iCXOXt>CpO^HH  _  _  -  - 

h-OiCOCJXdOCiOHOiOt^ClOX 


Ht^^<NH<OXi 
O  Tt*  X  —*  03  O  ( 
O  3>-  05  CO  kC  ^  CD  < 


«  UO  03  Hf  ' 

I  03  r-H  03  C 
I  r-  CD  CO  O 

^  Of  CO  ^  —  Ol”  03  CO  kft  03  CO*  h 
vHHr-HTH^CDXC3WifO 

€&•  TH 


S2S 


soco^jiD^jtr^cjeocg 


r  r 

i«r  c  *- 
Oji  V  J: 
K  ^  >  •- 

2*1* 
«&s  I « 

>■”  «3 

■2  fe-H 
a)  ^  O  — - 

£kS® 

4>H  .S 

£  3  «  • 

'SgnS 
-a  £  s 

^  cj  e 
toS  to*3 

©  « a 

c  to  O  B 
0<J'C  o 

•°  »§ 

H  *5 

c  Sh  a 
«  «  «3 

w  P-.  .  o 

<-  03 -H  — 

o  M 

DoC  4>  “ 

-gfl 

“s3® 

i2"1 

’kcSS^ 

a  viz  s3 


(MrfipHt-oiot-eo 

C^MO0l>00-H5«© 
GCCSie<5©lN©©lO 
SDOSOlC'.t-t'-'HCD 

C3HM^O>fflSn' 


Q5  t-  05  ! 
O  g  Ol  ©  I 


:  !>•© 
j  oo  cj 

I  ic  © 


!  lO  ©  ©  !->  ~ 


03  L- 
.  .  CO  05 
03  kC  Oi  ^ 


COXC*t"-XtOsDCD^XO3cO03O5 


O  03  g  J 


©  •*<  05  Ok  C-  t 
05  c-  00  Ol  ©  > 
TH  1^*  CO  00  t—  r 


>  kO  eg  ©  ^  H  05  ©  T-< ; 
<<Mc5^H0kO5O3g5f0 
eo  kO  ©  ©  < 


i  kg  ©  pi  oo  co  © 


I  ©  «5  ©  r-  (M  i— i  <M 
i  kfj  ©  r~  eo  eo  eo  r- 

i  kcTeo  oo"'  no- ©”  ©  Pk  — ' 1 

scjpkt-kneocc'H-H'H 


r- 1- 1-  -+<  2* 

©  31  UP  i-i  Pfl  -H 


©©©  —  •^(Mr^co©cop»©P;icc 
T-«  CO  -V  ©  id  *  ”'• 


>t-»iOiao)v  ©  ©  © 


'ir'-e<©’-<‘0©X’  —  eot^»-'’-i©t^©Moj 


~T  01 

— <  CO  ©  s^.  - •»  ■  - i, 

OkiC©OkH'©'H©kO©©PI 


©  ©  ©  I 
C-l  ©  <M  ©  t-  ‘ 


.  x  ©  o  t-; 


©OHlOt- 

©©•Ht-^T^'fod'’-*© 


•  ©  ©  _  . 
i©kO©-»kft^©t^cO 
|-^'0:klf5©©H©',<S'Cp-3'©C0 


PI  OD  < 


C>  *“  r  •>  r  n 


h  rCOCDCOOOCO  Ci 
Tt<kCkOlOkCCDCDt><X)t>* 


©  02  X 

©  co  o 

03  03  co 
p- 

CO  to  ^ 

tfoos 

X  ZC  tr¬ 
ee  CO  to 


.  <-XTHkCOTfCOC5kO 
HiCCOOOCDNOCiO 


©  ©  ©  rH 
->  -rH  io 
>  ^  CO 


kC  Ht<  ©  ©  CO 
—  __  kO©©r^t^ 
h  ©  kC  03  ©  © 


t>XCOHH<CO^>XkOkO 
rk£5H©N©nOC  J. 
X  ©  ©  ©  ©  ©  rH  CO 

r  ©  t^rH  k^foT©  to  rH 


©  r- 


S©  ©  rl  PI  ( 
lO  ©  ©  ©  < 
00  X  00  ©  00  < 


)  X  X  < 


)C^00©O-H03C0^'kC 


iSSxxoo® 


XXX 


-2W- 

'■'S'441 

t  4  £  3 

a)  -h>  P 

^  *r  c 

**H  *3  4  * 

o  ^  Jj  ^ 

«2c<  y  « 
<!  3  4  B  ►» 
S)  ?  4)  #  4) 

©-=©©  g 

9S§B» 
c  ©i;  o-© 

p  Sf 

-c3  g  “  a 

©  00  CO  3  _ 

0)  —  c  5  © 

BA  a5  ©  a) 
us^t  S* 

—  2  *,  o  v 
«  c  © 

1 5  -H  c  i, 

:u._  ®  O  B 

tgsss 

5s£gi 

rH  O  O  „  »- 

©  «  a 

H#SB^ 
(J  fl  3  «A 

•°  0)  gfa 
OkAi  ®*o 

^‘S'D  4J 
2  ©  P  I- 
JS  C  04  St 


Teeasubeb’S  Bubeau.— Losses,  1))£  years,  less  than  $1  in  $1,000,000.  The  $47,097  stolen  will  be  recovered. 

er  cent.,  as  shown  by  actual  returns. 


3 


Reducing  the  Public  Expenditures. 

The  expenditures  of  the  Government  for 
the  fiscal  years  from  1865  to  1875  inclusive, 
were  as  follows  : 


1865... 

1866... 

520,  809. 416.  !)9 

1867 .  . 

...  357,542,675.16 

1868... 

..  377,340,284.86 

1869.  . 

...  322,865,277.80 

1870... 

309,653,56075 

1871 .  . 

...  292,177,18825 

1872. . . 

..  277.517,962  67 

1873.  . 

...  290,345,245.33 

1874... 

..  287,133,873.17 

1875 .  . 

...  274,623,392.84 

Maximum. 

Reduction.  $776 , 745, 807. 42 
Reduction .  .163,266, 741. 83 
Increase..  10,797,609.70 
Reduction.  54,475,007.06 
Reduction .  ..13, 211, 717.  05 
Reduction  .  .17, 476.  372. 50 
Reduction . .  .14,  659, 225. 58 
Increase  ..  12,827,282.66 

Reduction.  3,211,372.16 
Reduction..  .12, 510, 480.  33 


From  1865  to  1875 — Reduction,  $1,022,931,831.57 


Public  Debt  Reduction. 

Public  debt  July  1,  1866 .  2,773,236,173.69 

Public  debt  July  1,  1875 .  2,232,284,531.95 


Reduction .  540,951,641.74 


Reduction  of  Interest  on  the 
Reduction  of  interest  in  1868 
Further  reduction  in  1869.... 
Further  reduction  in  1870.... 
Further  reduction  in  1871.... 
Further  reduction  in  1872..., 
Further  reduction  in  1873.... 
Further  reduction  in  1875 . 


Public  Debt. 
$3,357,546.20 
9,729,802.91 
1,458,744.80 
3,658,932.07 
8,218,726.21 
12,607,151.28 
4,026,270.64 


Reduction  . . .  43,057,174.11 

Less  Increase  in  1874  . 2,369,126.77 


Net  reduction  of  Interest..  40,668,047.34 


Reduction  of  Interest  on  Debt  by  Funding. 
Amount  of  6  per  cent,  bonds 

funded,  at  5  per  cent .  $500,000,000 

Saving  of  interest  per  annum  5,000,000 


Reduction  of  Internal  Revenue  Taxes. 
Internal  revenue  taxes  1866....$309, 226, 813.42 
Internal  revenue  taxes  1875....  110,007,493.58 


Reduction .  199,219,319.84 


Direct  Income  Taxes  Abolished. 

Collected  on  Incomes  1867 . $4,200,233,70 

Income  taxes  since  1871 .  Abolished 


Total  Reduction  Internal  Revenue  and 
Income  Taxes. 

Internal  revenue  taxes,  1866. .$309, 226, 813. 42 
Direct  income  taxes,  1867 .  4,200,233.70 


313,427,047.12 

Total  Taxes  in  1875 .  110,007,493,58 

Total  Reduction .  203,419,553.54 

Reduction  of  Customs  Taxes. 

Actual  decrease,  1873 . $28,208,774  07 

Actual  decrease,  1874 .  24,985,689  01 

Actual  decrease,  1875 .  .  6,370.236  76 


Aggregate  Revenue  Receipts. 

The  following  shows  the  receipts  from  all 


sources  from  June  30,  1861,  to  June  30, 
1875,  inclusive : 

Customs . 

$2,170,491,215.90 

2,066,331,218.88 

14,810,189.37 

24,436,276.73 

256,519,693.25 

192,590,748.36 

Internal  Revenue . 

Direct  Tax . 

Public  Lands . 

Miscellaneous . 

Premiums . 

Total . 

$4,725,179,342.49 

Reduction  of  Taxes  by  Acts  of  Congress. 

The  following  exhibits  the  estimated  re¬ 
duction  of  annual  internal  taxation  and  cus¬ 


toms  duties  under  the  laws  mentioned  : 


Act  of  July  13,  1866  . 

Act  of  March  2,  1867 . 

Act  of  February  3, 1868 . 

Acts  of  March  1  and  July 

20,  1868 . 

Act  of  July  14,  1870 . 

Acts  of  May  1  and  June  6, 
1872 . 


$65,000,000.00 

40,000,000.00 

23,000,000.00 

45,000,000.00 

78,848,827.33 

51,823,761.38 


Net  total  reduction .  303,672,588.71 


These  were  actual  reductions  based  on  the 
receipts  of  previous  years  ;  yet  the  revenues 
did  not  fall  off  to  the  extent  of  the  reduc¬ 
tions  for  the  following  reasons  :  The  impor¬ 
tation  of  dutiable  goods  continued  to  in¬ 
crease,  and  went  up  from  $445, 512, 158, in  1866, 
to  $663,617,147,  in  1873,*  thus  swelling  the 
revenues.  So  in  internal  revenue  experience: 
When  whisky,  f<ff  example,  paid  a  duty  of  $2 
per  gallon,  the  receipts  were  (1868)  $13,419,- 
092.74.  In  1869  the  tax  was  reduced  to  50 
cents  per  gallon,  and  in  the  following  year  the 
collection  of  revenue  on  whisky  alone 
amounted  to  $38,633,184.13.  This  shows 
how,  after  making  a  reduction  of  over  three 
hundred  million  dollars  in  the  taxes,  the 
revenues  amounted  to  $288,000,051  for  the 
last  year.  The  reduction  is  stated  above 
at  $303,672,588.71,  based  on  evidence  pro¬ 
duced  in  Congress  ;  but  a  careful  examina¬ 
tion  shows  the  actual  aggregate  reduction  to 
be  $319,527,230  per  annum.  That  this  vast 
reduction  of  taxation  should  be  accomplished 
since  1866,  and  the  public  debt  in  the  same 
time  reduced  $540,951,641.74,  with  an  actual 
reduction  of  $40,688,047.34  of  the  interest 
on  the  debt,  certainly  evinces  both  good 
statesmanship  and  careful  economy. 

Results  in  the  Patent  Office. 


Patents  issued  in  1860, . 4,775 

Patents  issued  in  1874, . ,.13,596 


This  great  increase  is  due  to  important 
modifications  in  the  patent  laws  and  the 
rapid  development  of  the  country  under  Re¬ 
publican  administration. 


*  For  Import*  and  Revenue,  see  page  4. 


Actual  total,  three  years . 59,564,749.84 


4 


Cost  of  Assessing  and  Collecting  Internal 
Revenue. 


Imports  and  Customs  Revenue. 


The  percentage  cost  of  assessing  and  col¬ 
lecting  the  revenues — adhesive  stamps  ex¬ 
cepted — from  1863  to  1874,  inclusive,  as 
deduced  from  the  expenses  allowed  by  the 
Fifth  Auditor,  by  whom  the  accounts  of 
internal  revenue  officers  are  adjusted,  is  as 
follows : 


TEAR.  !  COST. 


I  YEAR.  |  COST. 


1863.. 

1864.. 

1865.. 

1866.. 

1867.. 

1868.. 


6  per  cent. 
4  per  cent. 
2  4-10  per  cent. 
2  2-10  per  cent. ! 
2  3-10  per  cent. 
44-10  per  cent. 


■10  per  cent’ 
-10  per  cent- 
-10  per  cent. 
-10  per  cent. 
-10  per  cent. 


1869.. 

1870.. 

1871.. 

1872.. 

1873.. 

1874.. 


42- 

3  5 
44 
44 
42 
41 


Add  to  this,  allowance  or  drawbacks,  re¬ 
funding  taxes,  cost  of  stamps,  paper,  and 


Year. 

Imports. 

1861 . 

335,650,153 

1862 . 

205,770,729 

1863 . 

252,919,920 

1864 . 

329,562,895 

1865 . 

248,555,652 

1866 . 

445,512,158 

1867 . 

417,833,575 

1868 . 

371,624,808 

1869 . 

437,314,255 

1870 . 

462,377,587 

1871 . 

541,493,708 

1^72 . 

640,338,766 

1873 . 

663,617,147 

1874 . 

595,861,248 

1875 . 

553,906,253 

Customs  Revenue. 


$39,582,125.64 

49,056,397.62 

69,059,642.40 

102,316,152.99 

84,928,260.60 

179,046,651.58 

176,417,810.88 

164,464,599.56 

180,048,426.63 

194,538,374.44 

206,270,408.05 

216,370,286.77 

188,089,522.70 

163,103,833.69 

157,167,722.35 


Interest  Paid  on  the  Public  Debt. 


dies,  and  the  expenses  of  the  office  at  Wash¬ 
ington — in  all  about  2  per  cent,  additional — 
and  we  have  the  total  cost  of  collecting  the 
internal  revenue,  showing  an  economy  proba¬ 
bly  without  a  parallel. 

Retrenchment  in  the  Internal  Revenue 
Bureau. 

Statement  of  the  number  of  officials  and 
employees  connected  with  the  Bureau  J uly 
1,  1875,  as  compared  with  the  number  De¬ 


cember  1,  1866  : 


% 

OFFICIALS  AND  EMPLOYEES. 

Dec.!, 

1866. 

July  1, 
1875. 

Commissioner . 

1 

1 

Deputy  Commissioners . 

2 

2 

Solicitor  ($4,000  per  annum) . 

1 

None. 

Heads  of  Divisions . 

3 

7 

Fourth  Class  Clerks . 

23 

30 

Third  Class  Clerks  . 

39 

42 

Second  Class  Clerks  . 

42 

50 

First  Class  Clerks . 

15 

18 

CoDvists .  . 

51 

70 

Messengers,  at  $1,000 . 

4 

None. 

Messengers,  at  $840 . 

3 

5 

Laborers  . 

9 

15 

Collectors . 

241 

202 

Deputy  Collectors . . 

1,850 

933 

Assessors  . 

241 

None. 

Assistant  Assessors . 

3,318 

None. 

Tobacco  Inspectors* . 

748 

28 

Revenue  Inspectors . 

178 

None. 

Inspectors  of  Coal  Oil* . 

106 

None. 

Inspectors  of  Spirits . . 

1,309 

None. 

Gen.  Inspectors  of  Distilleries*.. 

393 

None. 

Special  Agents . 

10 

None. 

Revenue  Agents . 

12 

25 

Storekeepers . 

1,149 

Gaugers*  . 

1,023 

Surveyors  of  Distilleries! . 

Supervisors  . 

10 

Total . 

8,599 

3,610 

•Paid  by  fees. 

fThere  were  150  surveyors  of  distilleries  in  1873. 
Now  distilleries  are  surveyed  by  deputy  collectors, 
designated  for  that  duty. 


FISCAL  YEAR. 

INTEREST. 

1861 . 

$4,000,173.76 

13,190,324.45 

24,729,846.61 

53,685,421.69 

77,397,712.00 

133,067,741.69 

143,781,591.91 

140,424,045.71 

130,694,242.80 

129,235,498.00 

125,576,565.93 

117,357,839.72 

104,750,688.44 

107,119,815.21 

103,093,544.57 

1862 . 

1863 . 

1864 . 

1865 . 

1866 . 

1867 . 

1868 . 

1869 . 

1870 . . . 

1871 . 

1872 . . 

1873  . 

1874  . 

1875 . 

Total . 

$1,408,105,052.49 

The  interest  paid  on  the  public  debt  up 

to  June  30,  1875,  amounts  to  $291,962,796.52 


more  than  half  of  the  debt  at  the  same  date. 
The  interest  has  always  been  promptly  paid, 
generally  before  it  was  due,  without  rebate. 


Expenditures  per  Capita. 

Table  showing  expenditures  per  capita 
from  the  year  1800  to  1871,  inclusive. 


Y  ear. 

Population. 

Expenditures. 

Per 

capita. 

1800.... 

5,305,925 

$10,813,971 

01 

2.038 

1810.... 

7,239,814 

8,474,753 

37 

1.171 

1820.... 

9,638,131 

18,280,534 

89 

1.187 

1830.... 

12,866,020 

15,142,108 

26 

1.176 

1840.... 

17,069,453 

24,314,518 

19 

1.424 

1850.... 

23,191,876 

40,948,383 

12 

1.766 

I860.... 

31,443,321 

63,025,788 

98 

2.004 

I860.... 

31,443,321 

*61,402,408 

64 

1.952 

1870.. .. 

1871.. .. 

38,555,983  ) 
38,911,616  j 

169,042,838 

18 

(  1.80 
(1.77 

1875.... 

43,000,000 

*73,950,991 

.86 

1.71 

•Disbursements  after  deducting  items  not  in  real¬ 
ity  f<>r  current  expenditures,  estimated. 

fExpemlitures  after  deducting  disbursements  inci¬ 
dent  to  the  war,  and  not  properly  chargeable  to  the 
current  cost  of  Administration,  estimated. 


5 


\ 


Circulation  of  Paper  Currency, 
1854  to  1876. 


Year. 


1854  .. 

1855  .. 

1856  . . 

1857  .. 
[858  . . 

1859  . . 

1860  .. 
1861  .. 
1862.. 

1863  .. 

1864  .. 

1865  . . 

1866  .. 
1867.. 
1868  .. 

1869  . . 

1870  .. 

1871  .. 

1872  . . 

1873  .. 

1874  . . 

1875  .. 


Bank 

Notes. 


204,689,000 
186, 952.000 
195,  747,01)0 
214,778,000 
155  208,090 
193,  806,000 
207,102  00(1 
202, 205  000 
183,794, 000 
25,000,000 
47, 000,  0i)0 
171,000,000 
280. 000, 000 
293,001),  00)) 
295,000,000 
293,000,000 
291,000.  090 
315, 000,000 
333,000, 000 
340, 000,000 
339,000,000 
351 ,869,  008 


Legal  Ten¬ 
ders. 

Fractional 

149,  0(10,000 

. 

Total . 


204,689,  000 
186,952,000 
195,747,000 
214  778,000 
155,208, 000 
193,306,000 
207,102,000 
202,  205,  000 
332,794,000 
297,  736,  000 
502,1,72,000 
628, 692,  OIK) 


254,970,00"  17,766,000 
434,178,000  22,894,000 
432,687,000  25,005,000 
400,  961 , 000  27,070, 000  708,031 ,000 
371,783, 000!  28, 307,  000  693,090, 000 
356,000,001)1  27,745,000  678,745,000 
356 , 000 , 000!  27, 508 , 0(  ;0  676 , 5Q8, 000 
356,000,0001  36,  878,003,683,  878,  000 
356,000,000  40, 582,000  71 1, 582,  000 
357,500,000  40,855  000  731,355,000 

o-r»  iuu\  onn  4  4  t\fu\  nnn 


356,000.  000  44,  799, 000 
382,000,000  46,538,000 
375,841,6871  42,129,424 


740,  799,001) 
767, 538, 000 
769, 840,119 


United  States  Currency. 

The  following  is  an  official  statement  of 
United  States  currency  outstanding  on  31st 


July,  1875 : 

Old  demand  notes . $  69,877  50 

Legal -tender  notes,  new  issue .  36,954,852  00 

Legal-tender  notes,  series  ol  1874 -  55,388,311  00 

Legal-tender  notes,  series  of  1869  -  279,941,945  00 

Legal-tender  notes,  series  of  1875....  2,470,000  00 

One- year  notes  of  1863 .  66,525  00 

Two-year  notes  of  1863 .  •  20,850  00 

Two-year  coupon  notes  of  1863 .  26,800  00 

Compound  interest  notes .  371,470  00 

Fractional  currency,  first  issue .  4,328,265  16 

Fractional  currency,  second  issue. .. .  3,139,813  13 

Fractional  currency,  third  issue .  3, 164, 181  12 

Fractional  currency,  fourth  issue,  first 

series .  6,711,663  68 

Fractional  currency,  fourth  issue, 

second  series .  1,783,566  55 

Fractional  currency,  fourth  issue, 

third  series .  5,995,158  70 

Fractional  currency,  fifth  issue .  16,022,744  76 


Total 


$416,456,023  60 


Public  Credit— Borrowing  Power  of 
the  Government. 

Under  Democratic  Rule. — In  1860,  the 
Buchanan  administration  borrowed  $10,000,- 
000,  at  12  per  cent,  discount.  See  Finance 
Reports  for  1860,  ’61  and  ’62. 

Under  Republican  Rule. — The  following 
are  the  rates  of  interest  on  government  stocks: 


Condition  of  the  National  Banks. 

Below  will  he  found  an  abstract  of  reports 
made  to  the  Comptroller  of  the  Currency, 
showing  the  condition  of  the  2.076  national 
banks  in  the  United  States  at  the  close  of 
business  on  Wednesday,  the  30th  day  of 
June,  1875,  the  end  of  the  last  fiscal  year  : 


resources. 

Loans  and  discounts .  $968,509,871.  82 

Overdrafts .  4,422,629.77 

II  8.  bonds  to  secure  circulation -  375,127,900  00 

U.  S.  bonds  to  secure  deposits .  14,150,200.00 

U.  S.  bonds  on  hand .  12,746,950.00 

Other  stocks,  bonds  and  mortgages. .  32,008,380. 34 

Due  from  redeeming  and  reserve 

agents .  89,788,903.73 

Due  from  other  Natioual  hanks .  48.513,388.86 

Due  from  State  bunks  and  hankers..  11,625,647.15 
Heal  estate,  furniture  and  fixtures..  10,968,755.55 

Current  expeuses .  4,992,309. 28 

Premiums  paid .  8,742,393.83 

Checks  ana  other  cash  items .  12,361.281.67 

Exchanges  for  clearing-house .  88,994,961.08 

Bills  of  other  National  banks .  24,261,961.00 

Fractional  currency .  2,62u.50l.  26 

Specie .  18,959.482.  30 

Legal-tender  notes .  87,492,895.00 

U.  S.  certificates  of  deposit  for  legal- 

tender  notes .  47,350,000.00 

Five  per  cent,  redemption  fund  with 

Treasurer .  16,325,911.62 

Due  from  Treasurer  other  than  five 
per  cent,  fund .  3,274,873.90 


Total . $1,913,239,201.  16 

LIABILITIES. 

Capital  stock  paid  in .  $501,568,563.50 

Surplus  fund .  133,169,094.79 

Undivided  profits .  52,160,104.68 

^National  bank  notes  outstanding. .  318,148,406  On 

State  bank  notes  outstanding .  786,844.00 

Dividends  unpaid .  6,106,519.34 

Individual  deposits .  686,478,630  48 

U  S.  deposits .  6,714  328.70 

Deposits  of  U.  S.  disbursing  officers.  3,459  061.80 

Due  to  National  banks .  138,914,828  39 

Due  to  State  banks  and  bankers _  55,714,055.18 

Notes  and  bills  rediscounted .  4,261,464. 45 

Bills  payable .  5^758,299.86 


Total . $1,913,239.201. 16 


•The  amount  of  circulation  outstanding  on  the  30th 
of  June,  1875.  as  shown  by  the  books  of  the  Comp¬ 
troller's  office,  was  . H6n, 008,  which  amount  In¬ 
cludes  the  notes  in  circulation  of  hanks  which  have 
failed,  are  In  liquidation,  and  have  deposited  legal- 
tender  notes  under  the  act  of  June  30,  1874. 

From  similar  reports,  showing  the  condition  of  the 
national  banks  in  the  United  StateB  on  the  1st  of  May 
last,  the  aggregate  resources  appeared  at  $1,908,847,- 
891.40.  or  $3,391, 409.76  less  than  on  Jnne  30 

At  the  time  the  last  report  of  the  condiilon  of  all 
the  national  banks  was  maoe  in  the  fiscal  year  which 
ended  June  30,  1874,  their  resources  were  shown  to  be 
$1  851,840,913.64.  By  this  It  will  he  perceived  that 
during  the  last  fiscal  year  the  resources  of  the  na¬ 
tional  hanks  Increased  $61,398,287  52.  There  was, 
however,  an  increase  during  the  last  fiscal  year  of 
ninety-three  hanks. 


Per  cent. 


First  four  months  of  1861,  just  prior 
to  the  breaking  out  of  the  rebellion, 

5  per  cent,  stocks .  8.14 

March,  1868,  commencement  of  third 
year  of  .Johnson’s  .Administration, 

10-40s  5  per  cent .  7.15 

March,  1869,  10-40s,  5  per  cent .  6.43 

July  1,  1872,  10-40s,  5  per  cent .  5.03 

$500,000,000,  5-20s  refunded,  1875,  at.  5.00 


The  complete  success  that  has  attended  the 
funding  of  the  $500,000,000  5-20  six  per 
cent,  bonds  at  five  per  cent.,  is  a  pretty  good 
guarantee  that  when  the  Government  is  ready 
to  offer  bonds,  under  the  funding  act  of  1872, 
at  four  and  one-half  per  cent.,  there  will  be 
a  demand  for  them,  as  there  has  been  for 
the  five  percents,  which  have  all  been  taken. 


The  People’s  Protection  Against  National 
Bank  Losses. 

The  official  report  of  the  actual  hank  note  circula¬ 
tion  on  the  1st  July,  1875,  Is  as  follows  : 

Amount  of  circulation  actually  outstand¬ 
ing,  July  1,  1875, . $316,393,869 

Amount,  due  hanks  for  mutilated  circula¬ 
tion  returned .  5,475.139 


National  bank  circulation . $351,809,009 

This  circulation  Is  secured  by 

1.  U.8.  bonds  amuuutlng  to  $376,31 1.500— 

IK)  per  cent,  upon  which  circulation  Is 

Issued.  equal  to .  338,683,150 

2.  Legal- tenders  deposited  with  theTn  as- 
urcr  II.  rt.  for  insolvent  and  liquidating 

hanks . 6,319,652 

And  forBauks  reducing  thelrclrculatlon  18. 340.015 


Total, . $358,392,317 

Making  an  excess  of  security  of  $6,523,809.  beside* 
the  10  percent,  margin  on  $376,314,500  ll.  S.  bonds, 
which  is  $37,631,400,  and  the  premium  which  the  same 
bonds  would  bring  In  the  market,  ranging  from  116  to 
121*  • 


6 


The  Public  Domain. 

It  was  not  until  1850  that  the  policy  of 
appropriating  alternate  portions  of  the  pub¬ 
lic  domain  for  development  was  duly  inaug¬ 
urated.  From  1850  to  1861  there  were 


granted  : 

Acres. 

To  States  for  railroad  purposes..- .  20,971,226 

To  States  for  canals .  3,705,986 


Total  for  railroads  and  canals .  33,677,212 

From  1861  to  1870  inclusive  : 

To  States  lor  railroads .  28,932,553 

To  States  for  canals .  700,000 

To  States  for  wagon  roads .  3,225,413 


Total  for  railroads,  canals,  and  wagon 
roads .  32,857,966 


To  railroad  corporal  ions,  being  for  the 
construction  of  the  Continental  lines, 
the  Atlantic  and  Pacific,  the  Central 
and  Union,  and  the  Northern  Pacific 

lines  estimated .  135,000,000 

There  have  been  granted  to  the  States 
about  60,000,000  acres  of  swamp  lands  on 
the  condition  that  the  proceeds  thereof,  to 
the  extent  necessary,  should  be  devoted  to 
their  reclamation. 


RECAPITULATION.  Acres. 

Grants  to  States  for  railroads .  58,903,779 

Grants  to  States  for  wagon  toads .  3,225,413 

Grants  to  States  for  canals .  4,405,986 

Grants  to  States  for  swain  p  lands  . .  60,000,000 

Grants  to  Continental  railroads .  135,000.000 


Total  for  improvement  and  reclamation  261,535,178 

In  neither  period,  that  under  the  control 
of  the  Democracy,  or  that  under  the  control 
of  the  Republicans,  were  any  of  these  grants 
made  by  a  partisan  vote,  both  parties  voting 
for  and  against  in  about  equal  ratio,  propor¬ 
tioned  to  their  strength,  respectively,  in 
Congress. 

After  the  grants  were  made  to  the  Conti¬ 
nental  lines  of  railway,  the  House  resolved 
unanimously  that  “the  policy  of  granting- 
subsidies  in  public  lands  to  railroad  and 
other  corporations  ought  to  be  discontinued,” 
and  no  grants  for  development  have  since 
been  made. 

The  area  granted  for  educational  purposes, 
is  about  22,000,000  acres,  and  the  estimated 
area  to  pass  to  the  States  yet  to  be  admitted 
under  the  system  is  56,000,000  acres. 

Total  lands  disposed  of,  and  area  yet  re¬ 


maining  : 

Acres . 

Estimated  extent  of  grants  to  States  and 

corporations  for  roads  and  canals .  261,000,600 

Grants  of  swamp  and  overflowed  lauds 

for  reclamation .  60,000,000 

To  States  for  educational  purposes .  78,000,000 

Grants  for  military  service .  68,000,000 


Estimated  sold,  disposed  of  under  home¬ 


stead  law,  donations  to  settlers,  and  to 
satisfy  private  claims,  deducting  the 
quantity  granted  for  military  service 


Total  disposed  of  or  pledged .  767,000,000 

Total  area  of  the  laud,  States  and  Terri¬ 
tories,  excluding  Alaska,  is .  1,465,000  000 


Total  area  undisposed  of  and  unpledged 
for  any  purpose . .  698,000,000 


being  about  seventeen  acres  to  each  person 
now  inhabiting  the  country,  and  about 
eighty-seven  acres  to  each  head  of  a  family, 
supposing  the  population  to  be  divided  into 
families  of  five  persons  each. 


International  Postage  Reform. 

The  following  statement  shows  the  reduc¬ 
tions  made  in  the  rates  of  letter  postage  be¬ 
tween  the  United  States  and  foreign  powers, 
under  the  administration  of  the  Republican 
party.  The  first  column  of  figures  shows  the 
rates  of  postage  on  half  ounce  letters  in  1861; 
the  second  column  gives  the  rates  in  1875,  and 
the  last  column  shows  the  amount  of  reduc¬ 
tion  : 


COUNTRIES. 

£  ounce. 

a 

*o 

® 

Pi 

1861 

1875 

Cts. 

Cts. 

Cts. 

Argentine  Republic . 

33 

18 

15 

Australia . . 

33 

12 

21 

Austria  . . 

30 

5 

25 

Africa,  (Spanish  Possessions). 

42 

5 

37 

Azores . 

42 

5 

37 

Belgium . 

42 

5 

37 

Bolivia  (via  Fanama) . 

34 

22 

12 

Brazil . 

45 

15 

30 

Balearic  Islands . 

42 

5 

37 

Canada,  Dominion  of . 

10 

3 

7 

Chili  (via  Panama) . 

34 

22 

12 

Canary  Islands . 

42 

5 

37 

China . 

45 

10 

35 

Denmark . 

24 

5 

19 

East  Indies .  . 

33 

10 

23 

Ecuador  (via  Panama) . 

34 

20 

14 

Egypt . 

38 

5 

33 

France  . 

30 

*5 

25 

Finland . 

29 

5 

24 

Faroe  Islands . 

24 

5 

19 

Great  Britain . 

24 

5 

19 

Germany .  . 

30 

5 

25 

Greece . 

35 

5 

30 

Hungary . 

30 

5 

25 

Holland . 

27 

5 

22 

Italy . 

42 

5 

37 

Iceland  . 

24 

5 

19 

Japan  . 

45 

10 

35 

Java  (via  Southampton) . 

45 

28 

17 

Luxemburg  . 

30 

5 

25 

Morocco,  (Spanish  Possess’ns). 

42 

5 

37 

Malta  . 

24 

5 

19 

Madeira ...  . 

37 

5 

32 

New  Zealand . 

33 

12 

21 

Norway . . . 

46 

5 

41 

Paraguay  (via  Panama) . 

34 

22 

12 

Portugal . 

37 

5 

32 

Russia . 

29 

5 

24 

Roumania.  . 

29 

5 

24 

Spain . 

42 

5 

37 

Sweden  . 

33 

5 

28 

Switzerland  . 

42 

.  5 

37 

Servia . 

29 

5 

24 

Sandwich  Islands . 

10 

6 

4 

Turkey  . 

35 

5 

30 

Uruguay  . 

25 

18 

7 

*After  January  1,  1876. 


Postal  Money  Order  System. 

This  is  also  a  result  of  Republican  rule.  There 
were  3,404  money  order  offices  in  the  States  in  1*74, 
throuah  which  .$74,424,854  71  passed,  leaving  a  profit 
to  the  Government  of  $105,198.12.  Exchanges  of 
money  orders  are  made  with  Great  Britain,  Ger¬ 
many,  Switzerland  and  Canada. 


/ 


Preparations  for  Resuming  Specie 
Payments. 

The  following  is  the  full  report  of  the  op¬ 
erations  of  the  different  mints  throughout 
the  country  for  the  fiscal  year,  completed 
June  30, 1875,  in  the  office  of  the  director  of  the 
mints.  The  first  table  covers  the  coina'ge  of 
the  mint  of  Philadelphia  : 


Gold. 

Pieces. 

Value. 

Double  eagles . 

Eagles . 

Half  eagles., . 

Three  dollars . 

Quarter  eagles . 

Dollars . 

238,910 

38,060 

348 

20 

900 

20 

$4,778,200 

380,600 

1,740 

60 

2,250 

20 

Totals . 

278,258 

$5,162,870 

Silver. 

Pieces. 

Value. 

Trade  dollars . 

Half  dollars . 

Quarter  dollars . 

Twenty  cents . 

Dimes  . 

476,800 

4,415,000 

2,003,800 

11,000 

4,580,600 

$476,800 

2,207,500 

500,950 

2,200 

458,060 

Totals . 

11,487,200 

$3,645,510 

Minor. 

Pieces. 

Value. 

Five  cent  . 

Three  cent . 

One  cent . 

1,893,000 

418,000 

12,318,500 

$94,650 

12,540 

123,185 

Totals . 

14,629,500 

230,375 

Total . 

26,394,958 

$9,038,755 

SAN  FRANCISCO  MINT. 

Gold. 

Pieces. 

Value. 

Double  eagles . 

Eagles . 

Half  eagles . 

1,300,000 

10,000 

20,000 

$26,000,000 

100,000 

100,000 

Total . 

1,330,000 

$26,200,000 

Silver.  [  Pieces. 

Value. 

Trade  dollars . 

Half  dollars . 

Quarter  dollars . 

Twenty  cents . 

Dimes  . 

3,379,000 

958,000 

492,000 

15,000 

3.430,000 

$3,379,000 

479,000 

123,000 

3,000 

343,000 

Total  . . 

8,274,000;  $4,327,000 

CARSON  CITY  MINT. 

Gold.  «  Pieces. 

Value. 

Double  eagles . 

Eagles . 

Half  eagles . 

98,497 

11,924 

20,383 

$1,969,940 

119,240 

101,915 

T  otd  1  •••••••«  •■•••••• 

130,804 

$2,191,095 

Silver. 

Pieces. 

Value. 

Trade  dollars . 

Half  dollars  . 

Twenty  cents.. . 

Dimes . 

1,841,700 

334,000 

1,316 

885,000 

$1,841,700 

167,000 

658 

88,500 

Total . 

3,062,016 

$2,097,858 

Minor  coinage  pieces,  14,629,500;  value, 
$230,375. 

Total  of  all  coinage:  pieces,  39,191,778; 
value,  $43,854,708. 

The  coinage  of  trade  dollars  for  the  fiscal 
year  ending  June  30,  1875,  amounting  to 
$5,697,500,  exceeds  that  of  the  fiscal  year 
preceding  by  $2,180,600,  and  is  more  than 
half  the  entire  coinage  of  silver  dollars  from 
1793  to  1874,  a  period  of  81  years.  Since 
the  passage  of  the  finance  bill,  January  14, 
1875,  the  coinage  at  the  Philadelphia  mint 
has  been  largely  of  subsidiary  silver  coin, 
the  mints  on  the  Pacific  coast  also  furnishing 
their  quota,  when  not  otherwise  engaged  in 
coining  gold  and  trade  dollars.  The  opera¬ 
tions  in  subsidiary  silver  coin  represent  the 
workings  of  about  seven  months,  as  prior  to 
December  last  the  coinage  was  confined  main¬ 
ly  to  gold  and  trade  dollars.  As  compared 
with  last  year’s  operations  the  excess  for 
the  fiscal  year  just  ended,  in  subsidiary  sil¬ 
ver  coin,  is  about  $2,000,000.  The  opera¬ 
tions  in  gold  show  a  decrease  at  the  Phila¬ 
delphia  mint,  as  compared  with  the  last 
fiscal  year,  which  is  attributed  to  the  fact 
that,  during  the  year,  which  ended  June  30, 

1874,  that  institution  was  busily  engaged  in 
the  re-coinage  of  gold  coin,  under  the  provis¬ 
ion  of  the  coinage  act  of  1 873.  The  gold  coin¬ 
age  at  San  Francisco  and  Carson  shows  an  in¬ 
crease  for  the  fiscal  year  ending  June  30, 

1875,  of  nearly  $6,000,000.  The  coinage  for 
the  month  of  July  of  this  year  is  as  follows: 


Philadelphia.. 
San  Francisco. 
Carson  City.... 


Total .. 


Gold. 


$172,000 

1,780,000 


$1,952,000 


Subsidiary 
silver  coin. 

$325,302 
728,000 
72,000 

_  $1,125,302 

The  new  refinery  of  the  mint  at  San  Fran¬ 
cisco  having  been  completed,  and  now  in 
successful  operation,  and  the  capacity  of  the 
other  mint  refineries  greatly  increased,  it  is 
estimated  that  nearly  all  the  mixed  bullion 
produced  in  the  United  States  can  be  advan¬ 
tageously  parted  at  the  mints,  and,  with  the 
new  machinery  and  appliances  added  to  the 
coinage  mints,  that  the  out-turn  for  the  next 
fiscal  year  will  be  more  than  doubled. 


Total  gold  at  the  three  mints:  pieces, 


Count  of  Cash,  &c.,  in  U.  S.  Treasury. 
On  the  retirement  of  General  Spinner,  after  four¬ 
teen  years  olUclal  service  as  U.  S.  Treasurer,  and  t  he 
appointment  of  his  successor,  John  C.  N.*w,  the 
bonds.  coin  and  currency  In  the  vaults  and  cash 
room  of  the  t  reasurer  were  counted,  ard  the  book* 
of  the  Treasurer  examined,  by  a  committee  ap¬ 
pointed  by  the  Secretary,  consistliiK  of  Joho  B. 
Blake,  (chairman, )  S.  E.  Middleton,  H.  H.  T.  Let- 
pold.  J.  l>.  Patten,  dr.,  Clias.  H.  Brown,  T.  C. 
Dickinson  and  Will  It.  Hewey.  The  committee 
ommenced  on  the  30th  June,  and  closed  the  count 
on  the  16th  July,  when  the  examination  of  the  hook, 
was  commenced,  and  completed  iu  two  weeks  more. 
~he  committee  in  their  report  say  : 

“  With  the  exception  of  the  deficiencies  and  ex- 

•  input  Diml  utiiloh  „  X*  Aft. 


c i ^ ii < hi. n u tf  /  »» v  iiiivc  iiiuiMi  iiit  ujuurj  oil  nanci  id 
the  Treasury  proper  to  correspond  with  the  amounts 
called  Jbr^  bj'  the  hooks,  and  the  correctness  of  the 


8 


How  the  People  are  Taxed  to  Pay  the  Cost  of  the  Democratic  Rebellion. 

The  following  table  exhibits ,  in  detail ,  the  items  which  make  up  the  amount  of  the  Democratic  pro-slmery  legacy 
the  American  people  for  the  fiscal  year  ended  June  30,  1875  : 


Payment  of  judgments,  Court  of  Claims . 

Salaries  and  expenses  of  United  States  and  British  Claims  Commission . 

Salaries  and  expenses  of  Southern  Claims  Commission . 

Salaries  and  expenses,  Court  of  Commissioners  of  Alabama  claims . 

Examination  of  National  Banks  and  hank  note  plates  . . 

Engrav’g  and  print’g,  &c.,  $1,581,069.41  ;  Refund’g  nat’l  debt  $150,255.51 

Expenses  of  national  currency,  $330,978.27  ;  do  of  nat’l  loan, $2, 444.47 . 

Defending  claims  for  cotton  seized . 

Repayment  for  lands  sold  for  direct  taxes . 

Return  of  proceeds  of  captured  and  abandoned  property . 

Collect’n  of  capt’d  and  aband’d  prop’ty,  records  and  evidence  of  same. 

Refunding  taxes  illegally  collected . . . 

Reissuing  national  currency  (reimbursable) . 

Trust  Fund  interest  for  support  of  free  schools  in  South  Carolina .  . 

Refunding  proceeds  of  cotton  seized . . . 

Refunding  to  National  Banks  excess  of  duty .  . 

Defending  suits  and  claims  for  seizures  of  captured  and  abandoned  property. 

‘Compensation  of  persons  employed  in  insurrectionary  States . 

•Cost  of  assessing  and  collecting  internal  revenue . . . 

Support  of  Freedmen’s  Hospital  and  Asylum,  Washington,  D.  C . 

National  Association  for  the  Relief  of  Colored  Women  and  Children,  D,  C. 
Prize  money  to  captors,  479,982.22;.for  destruct’n  enemy’s  vess’ls,  50,419.32 

Payment  to  officers  and  crew  of  the  United  States  steamer  “Kearsage” . 

Payment  of  shares  in  capt’s  made  by  Adm.  Farragut’s  fleet  on  Miss,  river... 

Navy  pension  fund,  $96,363.93  ;  Pensions,  $29,456,216.22 . 

Interest  on  debt, 103, 093, 544.57;  Bounty  under  Act  July  28, ’66,  $277,111.44 

Expenses  under  reconstruction  acts . 

Collection  and  payment  of  bounty,  &c.,  to  colored  soldiers  and  sailors . 

Keeping,  transporting  and  supplying  prisoners  of  war . 

National  Cemeteries,  $168,869.59  ;  Headstones  on  Graves,  $134,989.17 . 

Medical  and  Surgical  History  of  the  War . 

Traveling  expenses  of  California  and  Nevada  Vols.  and  1st  Mich.  Cav . 

Support  of  refugees,  freedmen,  $34,716.20;  Horses  lost  in  service,  $83,720.68 
Reimburs’g  States  for  rais’g  volunt’rs,  and  expenses  insuppress’grebell’n.. 

Claims  of  loyal  citizens  for  supplies  furnished  during  the  rebellion . 

Publication  of  official  records  of  the  rebellion . 

Commutation  of  rations  to  prisoners  of  war  in  rebel  States . 

Payment  of  stoppages  or  fines  due  National  Home  for  disabled  volunteers. 
Awards  to  British  claimants,  $1,929,819.00;  Relief  Acts  (various),  77,064.29 


$516,531  35 
2,093  25 
51,800  00 
84,374  70 
705  75 
$1,731,924  92 
$333,422.74 
14,290  75 
23,920  00 
880,619  34 
630  50 
893  00 
64,244  76 
3,900  00 
36,938  72 
258  40 
26,124  00 
4,068  65 
5,188,513  31 
50,000  00 
10.000  00 
530*401  54 
2,040  87 
362,600  00 
29,552,580  15 
103,370,656  01 
240  04 
80,000  00 
2,195  35 
303,858  76 
40,000  00 
12,185  15 
118,436  88 
186,667  93 
.  1,265,170  40 
20,000  00 
4,000  00 
911,505  12 
2,006,883  29 


Total . $147,794,675  63 


The  Nation’s  Pensioners— Direct  Results  of  the  Democratic  Rebellion. 

[For  total  Expenses  of  tlie  Bureau  see  page  2.  j 


Year. 

Invalid  Soldiers. 

Widows  and  Dependent 
Relatives . 

Total . 

Number 
on  Roll . 

Amount  Paid. 

Number 
on  Roll. 

Amount  Paid. 

Number 
on  roll. 

Amount  Paid. 

1861... 

5,215 

$480,371 

26 

5,494 

$608,847 

49 

10,709 

$1,089,218 

75 

1862... 

4,341 

368,368 

33 

3,818 

432,451 

61 

8,159 

800,819 

94 

1863... 

7.821 

447,544 

64 

6,970 

596,819 

83 

14,791 

1,044,364 

47 

1864... 

23,479 

1,449,616 

71 

27,656 

3,072,005 

47 

51,135 

4,521,624 

18 

1865... 

35,880 

2,216,954 

30 

50,106 

6,325,930 

97 

85,986 

8,542,885 

27 

1866... 

55,652 

3,901,562 

01 

71,070 

9,349,418 

16 

126,722 

-13,250,980 

17 

1867... 

69,565 

6,548,151 

32 

83,618 

12,133,560 

47 

153,183 

18,681,711 

79 

1868... 

75,957 

7,627,394 

13 

93,686 

16,452,009 

05 

169,643 

24,079,403 

18 

1869... 

82,859 

9,525,058 

17 

105,104 

18,920,030 

92 

187,963 

28,445,089 

09 

1870... 

87,521 

9,137,362 

43 

111,165 

18,643,449 

38 

198,686 

27,780,811 

81 

1871 ... 

93,394 

12,497,631 

78 

114,101 

20,579,751 

85 

207,495 

33,077,383 

63 

1872... 

113,954 

12,272,004 

18 

118,275 

17,897,336 

82 

232,229 

30,162,341 

00 

1873... 

119,500 

12,804,404 

47 

118,911 

16,380,885 

15 

238,411 

29,185,289 

62 

1874... 

121.628 

12,616,386 

17 

114,613 

17,977,363 

39 

236,241 

30,593,749 

56 

Committees  and  individuals  in  ordering  Political  Pamphlets,  will  please  designate  the  papers  required 
by  the  number  on  the  left-hand  corner  of  the  title  page.  Address  “  Union  Republican  Congressional  Exec- 
immittee,  Washington,  D.  C. and  indicate  whether  packages  shall  be  sent  by  mail  or  express. 


